Unemployment Claims

The Unemployment Claims Rate determines the amount of individuals who claimed unemployment insurance for the first time during the past week. This weekly indicator provides very temporary data, but traders see Unemployment as a lagging indicator that gives little indication of the future performance of the economy. The downward trend has a positive effect on the country's currency, as working people tend to spend more money, and consumption makes up a large portion of GDP
The number of Americans filing for unemployment benefits rose by 12,000 to 248,000 in the week ended July 1, broadly in line with expectations of 245,000. However, the result remained well below historical averages and short peaks from the first three weeks of June, echoing Evidence of a tight labor market echoes from other surveys of this period. The four-week moving average, which removes weekly volatility, fell by 3,500 to 253,250. On an unadjusted seasonally basis, claims increased by 20,838 to 250,556, with notable increases in Michigan (+6,729) and New York (+4,341). Meanwhile, continuing claims fell by 13,000 to 1,720,000 in the previous week, the lowest level in four months, suggesting that conditions for job seekers may improve.

Outlook for today's statement and how it will affect the currency

The expected result for today's statement is 251 thousand
In the event that the current statement issued a result higher than expected, it negatively affects the currency, and vice versa

The timing of the statement

The report will be issued at 3:30 pm Mecca Al-Mukarramah time